Self-Study

Guide to Understanding the At-Risk Basis Rules and Forms 6198 and 7203

  • Wednesday, May 1, 2024 – Wednesday, April 30, 2025

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  • 2.00
    CREDITS
    Taxes

Many tax clients with losses from their S corporations, partnerships, and multiple-member LLCs treated as partnerships will want to use these losses to offset their other income from other sources. This program explains when, why, and how the at-risk rules apply to allow or to prevent the owner of a pass-through entity from taking a loss from a pass-through entity and using it to offset other income. This program is extremely helpful for anyone with pass-through entity clients.

Objectives

  • Understand how a client determines his or her at-risk basis in his or her pass through entity
  • Understand how the at-risk basis calculation differs from a regular basis calculation
  • Calculate the amount of an investor's annual at-risk basis
  • Understand the structure of IRS Form 6198 and how it relates to calculating a taxpayer's at-risk basis

Highlights

  • Basis and at-risk basis
  • How to calculate the amount of annual at-risk basis
  • Forms 6198 and 7203
  • When activities may be aggregated for at-risk purposes
  • Qualified nonrecourse financing

Additional Information

Designed For

Any tax practitioner wishing to understand the at-risk rules and how they apply to losses allocated to the owners of pass-through entities

Vendor

Surgent

Advanced Preparation

None

Credits

2.00 Taxes

Prerequisite

A basic understanding of the tax rules relating to partner basis and S corporation shareholder basis

Course Number

2433019

Level of Knowledge

Intermediate

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